ANN ARBOR, Mich. – The University of Michigan CU closed a deal yesterday to buy the 58,000-square-foot former headquarters building of the defunct Ann Arbor News in downtown Ann Arbor.

Two weeks after calling off a capital-raising effort, Tidelands Bancshares Inc. in Mount Pleasant, S.C., said it plans to reduce its size.

EverBank has thrived as one of the most profitable banks in Florida by becoming a dominant player in the online banking realm. Last week, though, the Jacksonville company made a detour into brick-and-mortar banking by acquiring three failed Bank of Florida franchises, snapping up 13 branches across the state and increasing its assets by 15%, to $11 billion.

Cascade Bancorp's lead investors are giving the Bend, Ore., company more time to find additional capital.

Center Bancorp Inc. in Union, N.J., said it will not launch a planned common stock sale "in light of current market volatility," according to a press release Tuesday.

SCRANTON, Penn. – Tobyhanna Army Depot FCU has sold the building it called home since 1995 and plans to build new offices at a nearby site it has owned since 2006.

Being small can complicate a bank's quest for capital, but some institutions have found ways to use smallness to their advantage.

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New York Attorney General Andrew M. Cuomo filed a lawsuit against several Western New York collection companies for violating the Fair Debt Collection Practices Act and several New York state collection laws.

OMAHA, Neb. – SAC FCU said it is opening a third Wal-Mart branch in nearby Council Bluffs, Iowa.

ERIE, Penn. – Erie FCU has signed with NCR to install the company’s EasyPoint 3800 ATMs.

NASB Financial Inc. in Grandview, Mo., reported its fourth-quarter earnings Tuesday after delaying the announcement to complete an evaluation of its investment in a land development company.

Horizon Bancorp in Michigan City, Ind., has completed its purchase of American Trust and Savings Bank of Whiting, Ind., the companies said Tuesday.

The competition for failed banks in Florida is so intense that the private-equity financier Wilbur L. Ross Jr. went looking for greener pastures. He found them in Michigan.

Advanced Call Center Technologies, a Berwyn, Pa.-based collection agency, will pay more than $1.5 million to a Lewisville, Texas man after a jury found the agency harassed him with racially charged phone calls.

At the request of several members of Congress, the Federal Trade Commission is again delaying enforcement of the “Red Flags” Rule - this time through the end of the year while Congress considers legislation that would affect which entities are covered by the rule, according to an FTC statement.

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Five more banks failed Friday — including the subsidiaries of Bank of Florida Corp. — costing the government an additional $317 million.

K-Fed Bancorp in Covina, Calif., said Friday that it plans to offer additional shares of common stock to convert from a mutual holding company to a full stock company.